Lake Oswego & West Linn | July 2012 Real Estate Data Reports by Area

Lake Oswego & West Linn: July 2012

Lake Oswego and West Linn Stats & Review

Overall the Lake Oswego market is still a buyer’s market. Interest rates are still at all time lows and the average market time is at 126 days. When the year to year price comparison is down significantly and the average sales price percent change is up significantly from last year at this time I have to look at more factors such as inventory and market time and give it a current price trend rating of Unchanged.

Lake Oswego’s Average Sales Price Percent Change is -0.8% ending July 2012 compared to Lake Oswego’s Average Sales Price Percent Change ending July 2011 was -9.1% or an increase of 8.3% comparatively.

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating. *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (8/1/11- 7/31/12) and compares it to the rolling average sales price of the previous 12 months (8/1/10-7/31/11).

Lake Oswego, Oregon's Current Real Estate Climate When comparing July’s results this year, (2012) to last year (July 2011) here is what you will find:

The average homeowner's equity decreased by $69,000 or 13.97% of value.
Average Sales Price in July 2012 was $425,000
Average Sales Price in July of 2011 was $494,000
Number of closed sales for the month of July was 120, up by 28%.
Number of closed sales for July 2011 was 94.
The July 2012 supply of homes stands at 5.52 months, up 40%.
July 2011 supply of homes was 9.26 months.

(The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.)

The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 126 days. This number is down 23 days (The July 2011 Total Marketing Time ended at 149 days).

It's important to compare these statistics to the entire Portland Metropolitan area as a whole which includes all of the city of Portland as well as the surrounding suburbs. This will help you to determine how each area is performing.

City of Portland and All the Surrounding Suburbs Current Real Estate Climate:

The current Rolling Price Appreciation/Depreciation percent change is -1.0%, which is a 4% decrease from -5% ending July 2011 . The current year to year comparison average price change from (July 2011- July 2012) prices are up 4.3%. With the Rolling Average Price increasing 4%, Average and Median Sales Price both higher from last year, supply levels still very low at 4.6 months, demand up significantly, marketing time down to 100 days (132 days ending July 2011) I have to give it an overall market rating appreciating prices. To establish trend you need to consider the very longer term such as rolling average sale price percent change from year to year but you also need to consider the immediate trend when compared to last year’s same month and in many cases even the previous few months of data.

*This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (8/1/11- 7/31/12) and compares it to the rolling average sales price of the previous 12 months (8/1/10-7/31/11). In this case the rolling average over the last twelve months is $267,200 and the rolling average of the previous 12 months was $269,800. You take the rolling average price difference and divide it by previous 12 month rolling average and you get -1.0%.

When comparing July’s results this year 2012 to last year (July 2011) here is what you will find:

The average homeowner's equity increased by $11,900 or 4.3% of value.
Average Sales Price in July 2012 was $287,000
Average Sales Price in July of 2011 was $275,100
Number of closed sales for the month of July 2012 was 1973
Number of closed sales for the month of July 2011 was 1709
The closed sales ratio is an increase of 264 or 15.45%

The July 2012 supply in the entire Portland Metro area stands at 4.6 months down 2.4 months from last year.
The July 2011 supply in the entire Portland Metro area was 7.0 months, which was down 3.8 months from July 2010 .
The time it takes on average from when a homeowner lists their home to when a home has an accepted offer is 100 days, which is down 32 days from July 2011’s total market time of 132 days.

Portland Metro Real Estate data comes from the RMLS of Portland, which is the region’s local multiple listing source for real estate listings. If you would like to receive e-mailed reports simply let me know.

Lake Oswego & West Linn: July 2012

2012 Portland Area/Section Reports: